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The website you are accessing is created and maintained by another entity. We make no representation or warranty with respect to the information contained on the site or that it is appropriate in all jurisdictions or countries, or for use by all investors or counterparties. The products and services discussed at this site may not be appropriate for sale or use by all investors or counterparties. By providing this link, we are not providing you with investment advice or offering securities for sale to you. All persons and entities that access this site do so on their own initiative and are responsible for compliance with applicable local laws and regulations.

The website you are accessing is created and maintained by another entity. We make no representation or warranty with respect to the information contained on the site or that it is appropriate in all jurisdictions or countries, or for use by all investors or counterparties. The products and services discussed at this site may not be appropriate for sale or use by all investors or counterparties. By providing this link, we are not providing you with investment advice or offering securities for sale to you. All persons and entities that access this site do so on their own initiative and are responsible for compliance with applicable local laws and regulations.

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State Street Institutional Liquid Reserves Fund - Trust Class
TILXX

Net asset value (NAV) is the value per share of a mutual fund on at a specific date and time. The per-share dollar amount of the fund is based on the total value of all the securities in its portfolio, any liabilities the fund has and the number of fund shares outstanding.

$1.0004

$1.0004

$1.0004

as of Jun 05 2020

8AM
12PM
3PM

Net Assets

$16,601,308,478

as of Jun 05 2020

WAM

WAM

WAM (Weighted Average Maturity) is a measure of a fund's sensitivity to interest rate movements utilizing the interest-rate reset date and not a security's stated final maturity.

39

WAL

WAL

WAL (Weighted Average Life) is a measure of a fund's sensitivity to credit spreads or liquidity conditions utilizing a security's stated final maturity date or the date of the next demand feature. WAL does not reflect changes in the interest rate reset date.

67

as of Jun 05 2020

Daily Factor

Daily Factor

A decimal representing the portion of an annual yield earned in one day.

0.000026509

as of Jun 05 2020

Yield†

†The subsidized yield reflects the yield calculation with voluntary reduction currently in effect. Without the reduction returns would have been lower.

0.32%

0.33%

0.39%

as of Jun 05 2020

1 Day7 Day30 Day

Performance

0.15%

1.85%

as of Apr 30 2020

1 MONTH1 YEAR

Yield quotations more closely reflect the current earnings of money market funds than the total return quotations. Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted.

Fund Objective

Fund Objective

The investment objective of State Street Institutional Liquid Reserves Fund ( "ILR" or sometimes referred to in context as the "Fund") is to seek to maximize current income, to the extent consistent with the preservation of capital and liquidity, by investing in U.S. dollar-denominated money market securities.

Fund Information
as of Jun 05 2020

Fund Information as of Jun 05 2020

Ticker Symbol

Inception Date

CUSIP

NAIC

Min. initial investment

Net Expense Ratio 1

TILXX

Aug 29 2016

85749Q455

No

$15,000,000

0.18%

Ticker Symbol

TILXX

Inception Date

Aug 29 2016

CUSIP

85749Q455

NAIC

No

Min. initial investment

$15,000,000

Net Expense Ratio 1

0.18%

S&P Fund Rating*

Fitch Fund Rating*

Investment Manager

Distributor

Distribution Frequency

AAAm

AAAmmf

SSGA Funds Management, Inc.

State Street Global Advisors Funds Distributors, LLC

Monthly

S&P Fund Rating*

AAAm

Fitch Fund Rating*

AAAmmf

Investment Manager

SSGA Funds Management, Inc.

Distributor

State Street Global Advisors Funds Distributors, LLC

Distribution Frequency

Monthly

Historical NAV

Data shown for the periods prior to the inception of the State Street Institutional Liquid Reserves Fund - Trust Class on August 29, 2016 reflects the historical data of the Fund's Investment Class shares.

The Historical Net Asset Value ("NAV") chart displays the 3:00pm ET Floating NAV of the fund. Prior to October 12, 2016, the Historical NAV chart displayed the Shadow NAV of the fund. The Shadow NAV of the Fund was designed to show the extent of deviation, if any, of the net asset value of the Fund using the amortized cost method of valuation in which, during the calculating the Fund's NAV, portfolio securities are valued at the fund's acquisition cost, as adjusted for amortization of premium or accretion of discount, intended to create a "stable NAV", in comparison to portfolio securities being valued based on available market quotations or current market factors, creating a likely "floating NAV". An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other Government agency. None of the State Street Corporation, State Street Bank and Trust Company, State Street Global Advisors, SSGA Funds Management, Inc. or their affiliates ("State Street Entities") guarantee the value of your investment at $1.00 per share.

Performance shown for the periods prior to the inception of the State Street Institutional Liquid Reserves Fund - Trust Class on August 29, 2016 reflects the historical performance of the Fund's Investment Class shares. The inception date of the performance for the Investment Class is October 15, 2007.

Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Effective October 12, 2016, Performance is calculated using the Fund's 3pm ET Floating NAV.

Performance shown for the periods prior to the inception of the State Street Institutional Liquid Reserves Fund - Trust Class on August 29, 2016 reflects the historical performance of the Fund's Investment Class shares. The inception date of the performance for the Investment Class is October 15, 2007.

Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Effective October 12, 2016, Performance is calculated using the Fund's 3pm ET Floating NAV.

Average Annual Total Returns reflect the reinvestment of dividends, capital gains distributions, all fee waivers and expense reimbursements.

Performance shown for the periods prior to the inception of the State Street Institutional Liquid Reserves Fund - Trust Class on August 29, 2016 reflects the historical performance of the Fund's Investment Class shares. The inception date of the performance for the Investment Class is October 15, 2007.

Yields shown for the periods prior to the inception of the State Street Institutional Liquid Reserves Fund - Trust Class on August 29, 2016 reflects the historical yields of the Fund's Investment Class. The inception date of the Investment Class is October 15, 2007.

Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Effective October 12, 2016, Performance is calculated using the Fund's 3pm ET Floating NAV.

Average Annual Total Returns reflect the reinvestment of dividends, capital gains distributions, all fee waivers and expense reimbursements.

Yield quotations more closely reflect the current earnings of money market funds than the total return quotations. Effective October 12, 2016, Yields are calculated using the Fund's 3pm ET Floating NAV.

Current Yield

Current Yield

Subsidized Yields†

†The subsidized yield reflects the yield calculation with voluntary reduction currently in effect. Without the reduction returns would have been lower.

Unsubsidized Yields

Date

Net Assets ($MM)

Daily Factors

Daily Factor

A decimal representing the portion of an annual yield earned in one day.

1 Day

7 Day

30 Day

1 Day

7 Day

30 Day

Jun 05 2020

$16,601.31

0.000026509

0.32%

0.33%

0.39%

0.32%

0.32%

0.38%

Yields shown for the periods prior to the inception of the State Street Institutional Liquid Reserves Fund - Trust Class on August 29, 2016 reflects the historical yields of the Fund's Investment Class. The inception date of the Investment Class is October 15, 2007.

Yield quotations more closely reflect the current earnings of money market funds than the total return quotations. Effective October 12, 2016, Yields are calculated using the Fund's 3pm ET Floating NAV.

Historical Yield

Historical Yield

Show:

Jun 2020

<

2020

>

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Subsidized Yields†

†The subsidized yield reflects the yield calculation with voluntary reduction currently in effect. Without the reduction returns would have been lower.

Unsubsidized Yields

Date

Net Assets ($MM)

Daily Factors

Daily Factor

A decimal representing the portion of an annual yield earned in one day.

Performance shown for the periods prior to the inception of the State Street Institutional Liquid Reserves Fund - Trust Class on August 29, 2016 reflects the historical performance of the Fund's Investment Class shares. The inception date of the performance for the Investment Class is October 15, 2007.

Yields shown for the periods prior to the inception of the State Street Institutional Liquid Reserves Fund - Trust Class on August 29, 2016 reflects the historical yields of the Fund's Investment Class. The inception date of the Investment Class is October 15, 2007.

Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Effective October 12, 2016, Performance is calculated using the Fund's 3pm ET Floating NAV.

Average Annual Total Returns reflect the reinvestment of dividends, capital gains distributions, all fee waivers and expense reimbursements.

Yield quotations more closely reflect the current earnings of money market funds than the total return quotations. Effective October 12, 2016, Yields are calculated using the Fund's 3pm ET Floating NAV.

Liquid Assets

Data shown for the periods prior to the inception of the State Street Institutional Liquid Reserves Fund - Trust Class on August 29, 2016 reflects the historical data of the Fund's Investment Class shares.

Daily Liquid Assets are defined as cash, direct obligations of the United States Government, securities that will mature (or are subject to a demand feature that is exercisable and payable) within one business day, or proceeds of pending sales of portfolio securities due within one business day.

Data shown for the periods prior to the inception of the State Street Institutional Liquid Reserves Fund - Trust Class on August 29, 2016 reflects the historical data of the Fund's Investment Class shares.

Weekly Liquid Assets are defined as cash, direct obligations of the United States Government, certain securities issued by entities acting as an instrumentality of (and controlled or supervised by) the United States Government subject to conditions specified in Section 270.2a7 of the Investment Company Act of 1940, as amended, securities that will mature (or are subject to a demand feature that is exercisable and payable) within five business days, or proceeds of pending sales of portfolio securities due within five business days.

Net Inflows/Outflows

The Daily Net Inflows/Outflows chart is designed to show the variability of the Fund's daily cash flows. The net inflows or outflows of the Fund are calculated by taking the daily total new Fund share purchases (including exchanges made into the Fund) and subtracting the daily total Fund share redemptions (including exchanges made out of the Fund). The existence of any daily inflows or outflows will not necessarily have a direct or indirect correlation to the Fund's investment performance.

The Monthly Net Inflows/Outflows chart is designed to show the variability of the Fund's monthly cash flows. The net inflows or outflows of the Fund are calculated by taking the monthly total new Fund share purchases (including exchanges made into the Fund) and subtracting the monthly total Fund share redemptions (including exchanges made out of the Fund). The existence of any monthly inflows or outflows will not necessarily have a direct or indirect correlation to the Fund's investment performance.

Beginning on 12/15/2017 the assets displayed are at the Portfolio level. Prior to this date the assets displayed were at the share class level.

1The Fund's investment adviser, SSGA Funds Management, Inc. is contractually obligated until April 30, 2021 to waive its management fee and/or to reimburse the Fund for expenses to the extent that Total Annual Fund Operating Expenses (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees and any class specific expenses such as Distribution, Shareholder Servicing, Administration, and Sub-Transfer Agency Fees, as measured on an annualized basis) exceed 0.07% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to April 30, 2021 except with approval of the Fund's Board of Trustees.

Trust Share Class is not open to new investors at this time.

Holdings subject to change

†The subsidized yield reflects the yield calculation with voluntary reduction currently in effect. Without the reduction returns would have been lower.

*All portfolio information provided is as of the date referenced, unless otherwise noted, and is subject to change. Ratings by S&P and Fitch apply to the credit quality of a portfolio and are not a recommendation to buy, sell or hold securities of a fund, are subject to change, and do not remove market risks associated with investments in the fund. For complete information on the methodology and definitions used by each rating agency, please visit the following websites; S&P- www.standardandpoors.com/ratings/funds-mmf/en/us, Fitch- www.fitchratings.com

Investing involves risk including the risk of loss of principal. The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA’s express written consent.

The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor. All material has been obtained from sources believed to be reliable. There is no representation or warranty as to the accuracy of the information and State Street shall have no liability for decisions based on such information.

Disclosure related to each of the State Street Institutional Liquid Reserves Fund and the State Street ESG Liquid Reserves Fund: You could lose money by investing in the Fund. Because the share price of the Fund is expected to fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Global Advisors, Inc.. The Fund pays State Street Bank and Trust Company for its services as custodian, transfer agent and shareholder servicing agent and pays SSGA Funds Management, Inc., an affiliate of State Street Bank and Trust Company, for investment advisory services.

Before investing, carefully consider a fund's investment objectives, risks, charges and expenses. Click the link to obtain a prospectus or summary prospectus which contains this and other information, or by calling 1.877.521.4083. Please read it carefully before investing.